Online gambling operator Betsson reported record revenue in the second quarter despite sports betting’s contribution falling more than one-third due to COVID-19.

Figures released Tuesday show the Stockholm-listed Betsson generated revenue of SEK1.53b (US$172.8m) in the three months ending June 30, one-fifth higher than the same period last year and a new all-time company record. Operating income improved 10.5% to SEK217.7m while net income rose 12% to SEK193m.

The casino vertical reported revenue rising 40% year-on-year to SEK1.28b, pushing casino’s share of the overall pie up 12 points to 84%. Mobile channels accounted for 72% of the casino bounty, and the vertical reported growth across all regions.

The pandemic-related halt of most major sports events pushed betting revenue down 34% year-on-year to SEK226.5m, reducing sports’ share of overall revenue to just 15%. While betting turnover was down ‘only’ 22%, betting margins fell nearly one full point to 6.9%. When it rains…